The Travel Agency: A Cannabis Store, the third licensed CAURD dispensary to open in New York, is celebrating the one year anniversary since selling its first cannabis products in the legal adult use market.
The Travel Agency Union Square has served over 125,000 consumers in its first year which, between its brick-and-mortar store at 835 Broadway and its delivery offerings in Manhattan, Brooklyn, and Queens, has generated approximately $5 million in tax revenue for NY State while creating 120 jobs.
With that kind of traffic over a twelve-month period, The Travel Agency has been able to compile and analyze data which, for the first time, presents a picture of the New York cannabis consumer. From consumption preferences to purchase patterns, this data provides unprecedented insights previously unavailable in the market.
The revenue in the first year was generated through the sale of products across 9 categories, comprising 102 brands and over 1,000 products. The Travel Agency’s portfolio is carefully curated around consumer needs and various price points. Consistent with an emerging market, their data shows the consumer is more inclined to purchase edibles, vaporizers, and pre-rolls from a legal dispensary as they see buying legal having additional safety regulations versus the illegal stores.
The diverse customer base of The Travel Agency spans five generations, from Gen Z to the Silent Generation with ages ranging from 21 to 91. As far as preference of consumption methods, the purchase of Vaporizers led the way at 29.3%, followed by 28% fans of Flower, 20% purchasing Edibles, 16.6% buying Pre-Rolls, and 6.1% buying other products like Concentrates, Tinctures, Topicals, CBD, and Accessories.
Among the many highlights of The Travel Agency’s first year is their overarching partnership with the nonprofit The Doe Fund, which empowers individuals experiencing homelessness and provides support for reentry after incarceration. Financial distributions from The Travel Agency Union Square to The Doe Fund coincide with the nonprofit staffing key supportive services positions including case managers, job coaches, and housing specialists; starting mindfulness and mental health care programs in the organization’s portfolio of transitional, affordable, and supportive housing; and exploration of innovative new job sector trainings in living wage and emerging industries.
Other highlights from The Travel Agency’s first year include having comedian Amy Sedaris as a Guest Budtender, winning three Clio Awards, and the many celebrity shopping visits — including cannabis supporter Sarah Silverman, who filmed a segment at the store for her hosting of The Daily Show. The dispensary has also been an active participant in supporting community-based events including The NYC Cannabis Parade & Rally, Revelry Block Party, The Village Trip, Affordable Art Fair, and NYC Pride.
“It’s hard to believe how far we’ve come in our first year,” said Paul Yau, Co-Founder of The Travel Agency. “We’re proud to be one of the leaders in New York’s legal cannabis market. It’s amazing to see the impact we’ve had, whether through new job creation, serving New Yorkers with safe tested products, supporting the thousands of men at The Doe Fund, or contributing a significant amount of tax revenue to the state, we are testament to the success of the legal cannabis program in New York. We are extremely supportive of the ongoing roll out of legal cannabis in New York, the closure of illegal stores, and the continued growth of the legal industry and all its benefits,” he concluded.
“One of the things we’re most proud of is our partnership with The Doe Fund as well as helping provide a platform for other organizations that look to the legal cannabis industry to repair the damage done by the failed war on drugs,” said Arana Hankin-Biggers, Co-Founder of The Travel Agency. “We continue to be committed to supporting marginalized groups who normally would not have access to economic opportunities in this new industry, supporting BIPOC, women, and LGBTQIA founders, and helping to eradicate the stigma around this incredible plant, while educating consumers about the benefits of consuming legal cannabis. This is a core part of The Travel Agency’s mission.”
“We’ve seen firsthand how the criminalization of cannabis disproportionately impacted those we serve,” said Jennifer Mitchell, President & CEO of The Doe Fund. “Our partnership with The Travel Agency Union Square reinvests revenue from cannabis sales into the same individuals and communities. In doing so, The Travel Agency is critical to our work advancing restorative justice.”
